Coinbase Commerce, which is a platform that supports payments of cryptocurrency to internet retailers, has recently added the DAI stable coin by Maker DAO to its list of available payment methods. This addition took place during the week of February 9, 2020. The addition of this option will allow merchants from all over the globe to accept the United States dollar-pegged stable coin as payment for products and services. Coinbase Commerce will not charge any additional fees to consumers who pay with it.

The merchants who want to accept it can add a button that says "pay with cryptocurrency" or something similar to their checkout page. They can also choose to accept DAI only. A shop owner can earn a DAI savings of 7.5 percent on payments. This new payment option opens the doors to more than 800,000 stores and more than 3,000,000 internet eCommerce sites on Shopify and WooCommerce. It also opens up a way for anybody else who wants to accept a decentralized stable coin as payment.

The process will introduce merchants to the growing population of people who use cryptocurrencies. It will allow them to cross the gap between DeFi application developers and their own shops. DeFi stands for decentralized finance, which is a growing movement started by cryptocurrency and blockchain technology. It brings traditional financial services to the cryptocurrency sector of the economy.

Rune Christensen, who is the CEO of the Maker Foundation, told a cryptocurrency journalist a few months ago that DeFi is a new set of products that is 100 percent transparent. The user is able to see exactly where their money goes. This gives the consumer a higher sense of trust and security. The system can be reviewed and traced in real time. DeFi also takes into account the global behavior and aspects of blockchain and the advantages offered by such services. The overall result is that the methods for making international payments are faster, have lower fees and better yields for merchants and consumers alike. Consumers also appreciate that their information is well-protected, and merchants like the lower rate of charge backs.